'Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism' by Ha-Joon Chang presents a compelling argument against minimalist, laissez-faire state policies advocated by neoliberals, especially in developing countries. Chang advocates for a judicious mix of market and government intervention, emphasizing the importance of nationalization and state subsidies in defending budding industries in developing nations. delves into the consequences of free trade, protectionism, and the role of corrupt governments in speeding up bureaucratic systems in poor countries.

Writing/Prose:

The writing style is straightforward and engaging, using clear metaphors and supportive footnotes to aid comprehension.

Plot/Storyline:

The narrative examines the dynamics of global trade, focusing on the contradictions and imbalances between developed and developing nations.

Setting:

The setting is a global context, discussing historical and contemporary economic scenarios across various nations.

Pacing:

Pacing varies, generally maintaining reader engagement, but complexity can slow down parts of the text.

1 The Korean income figure is from H.-C. Lee (1999), Hankook Gyongje Tongsa [Economic History of Korea] (Bup-Moon Sa, Seoul) [in Korean], Appendix Table 1. The Ghanaian figure is from C. Kindleberger ...

Genres:

Topics:

economic development

global trade policies

role of government in economy

neoliberalism

protectionism

cultural impact on economics

critique of neoliberalism

historical analysis

Notes:

Ha-Joon Chang argues that rich countries impose free trade rules on poorer nations while having used protectionist policies themselves in their own development.

The book suggests that rich countries only promote free trade when their companies have a competitive advantage.

Chang provides examples from countries like the US, UK, Germany, and South Korea to highlight how they grew through protectionism.

The author critiques large institutions like the IMF and World Bank for perpetuating rules that benefit rich countries at the expense of poorer ones.

Free trade can benefit poor nations by allowing them to sell raw materials, but tariffs on finished products hinder their development.

Chang promotes the idea that developing countries should choose their own economic paths instead of following imposed policies from the West.

The book emphasizes the importance of a mixed economy with both government involvement and market forces, especially for developing countries.

Chang argues that corruption can sometimes streamline bureaucratic processes in poorer countries, making it less detrimental than often perceived.

The author challenges the notion that culture is the primary driver of economic success, suggesting economic conditions shape culture instead.

Chang's writing style makes complex economic arguments accessible to a broad audience.

From The Publisher:

"Lucid, deeply informed, and enlivened with striking illustrations." -Noam Chomsky

One economist has called Ha-Joon Chang "the most exciting thinker our profession has turned out in the past fifteen years." With Bad Samaritans, this provocative scholar bursts into the debate on globalization and economic justice.

Using irreverent wit, an engagingly personal style, and a battery of examples, Chang blasts holes in the "World Is Flat" orthodoxy of Thomas Friedman and other liberal economists who argue that only unfettered capitalism and wide-open international trade can lift struggling nations out of poverty. On the contrary, Chang shows, today's economic superpowers-from the U.S. to Britain to his native Korea-all attained prosperity by shameless protectionism and government intervention in industry. We have conveniently forgotten this fact, telling ourselves a fairy tale about the magic of free trade and-via our proxies such as the World Bank, International Monetary Fund, and World Trade Organization-ramming policies that suit ourselves down the throat of the developing world.

Unlike typical economists who construct models of how the marketplace should work, Chang examines the past: what has actually happened. His pungently contrarian history demolishes one pillar after another of free-market mythology. We treat patents and copyrights as sacrosanct-but developed our own industries by studiously copying others' technologies. We insist that centrally planned economies stifle growth-but many developing countries had higher GDP growth before they were pressured into deregulating their economies. Both justice and common sense, Chang argues, demand that we reevaluate the policies we force on nations that are struggling to follow in our footsteps.

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About the Author:

Ha-Joon Chang is Assistant Director of Development Studies in the Faculty of Economics and Politics, University of Cambridge.

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Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Ha-Joon Chang